EUR/JPY may rise 40 - 60 pips.

EUR/JPY may rise 40 - 60 pips.

Our pivot point is at 184.72.

Our preference : Look for a drop towards 184.72 before a bounce Alternative scenario Below 184.72, expect 184.38 and 184.19.

Comment : The RSI is above its neutrality area at 50.

The MACD is below its signal line and negative.

The penetration of 50 on the RSI should trigger further losses.

Moreover, the price is below its 20 period moving average (185.22) but above its 50 period moving average (185.11).